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July 24, 2025
Cadwalader partner Douglas S. Mintz was quoted in a The Deal article analyzing the bankruptcy implications of the newly enacted GENIUS Act, which includes major amendments to the Bankruptcy Code as it applies to stablecoin issuers.
“Other than the tinkering with safe harbors post-2008, it’s the most significant amendment [to the Bankruptcy Code] in some time,” Doug said.
He also noted the potential conflict between two provisions of the act: “Congress is creating an inherent disconnect between 11(e) and 11(c) and courts will be required, at minimum, to weigh the applicability of the automatic stay to stablecoin reserves early in a stablecoin issuer bankruptcy.”
Read the full article here (subscription required).
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